Adani's big exit: What went wrong with Adani Wilmar and what it means for the stock

Fortune oil might have earned its spot as a household name but it surely hasn't done much for Adani Wilmar's fortune, and that of its shareholders. The stock that more than tripled investor wealth within a short span of its listing two years ago has witnessed a steep decline thereafter, eroding shareholder wealth by 31 per cent each year. It's no surprise the Adani Group is now exiting the business, partly through an offer-for-sale where promoters are selling up to 20 per cent, half the stake they hold in the company. The rest will be bought by majority shareholder Wilmar International. While this move frees up resource